Lower Fairfield County Report RESEARCH | YEAR END 2024
©2023 Centric Realty LLC. All rights reserved. Corcoran® and the Corcoran Logo are registered service marks owned by Corcoran Group LLC. Centric Realty LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated.
R ESEARCH | Lower Fairfield County 2024 | 2
Contents Overview p. 3 Sales & Inventory p. 4 Graphs p. 5 Top 10 p. 7 Sales by Town p. 8 Town Summary
p. 1 4
Methodology p. 15
©2023 Centric Realty LLC. All rights reserved. Corcoran® and the Corcoran Logo are registered service marks owned by Corcoran Group LLC. Centric Realty LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated.
R ESEARCH | Lower Fairfield County 2024 | 3
Lower Fairfield County Overview SI N G L E FAMIL Y /COOP /C ON D O
Closed Sales
Average PPSF
5,021
$535
Median Price
Sold Dollar Volume
$950K
$7.2B
3% YEAR OVER YEAR
7.9% YEAR OVER YEAR
3.7% YEAR OVER YEAR
3% YEAR OVER YEAR
Inventory
% List Price Rec’d
6,006
103%
5% YEAR OVER YEAR
NO CHANGE YEAR OVER YEAR
The Lower Fairfield County market, spanning coastal and suburban towns like Greenwich, Stamford, Darien, New Canaan, Norwalk, Westport, Fairfield, Easton, Wilton, Weston, Redding, and Ridgefield, navigated another year of constrained inventory and resilient demand in 2024. Despite limited options for buyers, the market demonstrated remarkable strength, maintaining its competitive edge with many homes selling above list price. Inventory dipped 5% YoY, with just 6,006 homes available, reflecting the ongoing supply challenges. Closed sales were slightly down by 3%, totaling 5,021 transactions, while the median sale price surged 7.9% to $950,000—underscoring the persistent demand for homes in this sought-after region. Sellers continued to hold the upper hand, achieving 103% of their list price on average, matching the record-setting pace of prior years. Signs of a gradual market shift are beginning to appear. Buyers are adjusting to evolving interest rate conditions, while sellers remain hesitant to list due to concerns about finding their next home. In this climate, strategic pricing and impeccable presentation have never been more important, as today’s buyers continue to prioritize both value and lifestyle. For sellers, however, the market’s strength and sustained buyer demand present an excellent opportunity to maximize returns.
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Sales
Inventory
Residential home sales in Lower Fairfield County declined slightly by 3% vs 2023,
Steady buyer demand kept the market highly competitive throughout the year. Inventory
reflecting a relatively stable market. Strong demand throughout the year helped
levels across Lower Fairfield County saw a modest 5% decline overall, with Easton
maintain market strength. The average sale price rose by 6%, climbing from $1.46
experiencing the steepest drop—a 32% decrease from 127 listings in 2023 to just 85 in
million in 2023 to $1.53 million, while the average price per square foot increased by
2024. Darien also faced a notable reduction, with inventory down nearly 15% to 245
7%, reaching $458 compared to $428 last year.
properties available throughout the year.
Closed Sales
2024
2023
% C hg/ yr
GREENWICH
695
706
-1.6%
WESTPORT
360
351
DARIEN
208
NEW CANAAN
Active Inventory
2024
2023
% C hg/ yr
GREENWICH
803
838
-4.2%
2.6%
WESTPORT
485
471
3%
253
-17.8%
DARIEN
245
488
-14.9%
262
278
-5.8%
NEW CANAAN
336
333
1.2%
WESTON
134
160
-16.3%
WESTON
180
194
-7.2%
WILTON
264
229
15.3%
WILTON
285
275
3.6%
FAIRFIELD
678
680
-0.3%
FAIRFIELD
867
802
8.1%
RIDGEFIELD
314
326
-3.7%
RIDGEFIELD
355
366
-3%
REDDING
118
108
9.3%
REDDING
142
150
-5.3%
EASTON
80
92
-13%
EASTON
85
127
-32%
NORWALK
800
843
-5.1%
NORWALK
915
957
-4.4%
STAMFORD
1,108
1,132
-2.1%
STAMFORD
1,308
1,333
-1.9%
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Median Sale Price $2,500,000
Median Sale Price
$2,000,000
The graph to the right compares the 2024 median sale prices of
$1,500,000
residential homes by town to 2023. The average median sale price across Lower Fairfield County was $950,000. Stamford saw the largest jump, up 13% YoY, from $575,000 in 2023 to $650,000 in
$1,000,000 $500,000
2024. While most towns experienced price increases, Ridgefield was the exception, with a slight 5.5% decline. Greenwich also posted a
$-
significant gain, rising 12.8% from $1,995,000 to $2,2550,000.
2023
2024
% List Price Received
Sale Price to List Price Ratio
106.0% 105.0% 104.0% 103.0%
The chart to the right represents the sale-to-list price ratio for
102.0%
residential home sales in 2024 vs. 2023, providing a YoY
101.0%
comparison. Wilton led the way for the second consecutive year, achieving the highest percentage of list price received at an impressive 105.9%, up slightly from 105.5% in 2023. New Canaan experienced the largest increase, rising 1.7% from 100.7% in 2023 to
100.0% 99.0% 98.0% 97.0% 96.0%
102.4% in 2024. Conversely, Redding saw the largest decline, dropping 2.8% from 102.7% in 2023 to 99.8% in 2024, reflecting varied market dynamics across towns.
2023
2024
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Inventory
Inventory
1400 1200
The graph to the right represents the active inventory of homes by
1000
town for 2024 compared to 2023, offering a YoY comparison.
800
Fairfield saw the largest surge in listings, up 8.1%, with 867 homes
600
available for sale compared to 802 in 2023. Conversely, Easton experienced the sharpest decline, with inventory dropping 32%
400
from 125 in 2023 to just 85 in 2024. Darien also faced a significant
200
decrease, with active listings falling nearly 15% from 288 to 245.
0
These figures highlight varying inventory trends across towns in the region.
2023
2024
Sold $ Volume
Sold $ Volume
$2,500,000,000 $2,000,000,000
The chart to the right represents the sold dollar volume of all homes in 2024 compared to 2023, showing year-over-year trends. Wilton recorded the largest increase, with sold dollar volume rising an impressive 29.5%, from $257M in 2023 to $333M in 2024. On the other hand, Darien experienced the sharpest decline, with volume dropping from $602M in 2023 to $505M in 2024. These shifts reflect varied market dynamics across the region, with most areas seeing
$1,500,000,000 $1,000,000,000 $500,000,000 $-
increases in median and average prices, except for Ridgefield, which experienced a slight decline
2023
2024
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Top 10 Highest Priced Sales Lower Fairfield County's luxury market made headlines in 2024 with its top ten priciest sales, showcasing a mix of impressive price point. Several properties saw significant discounts from their original asking prices, with 16 Windrose Way in Greenwich experiencing the largest reduction. Initially listed at $21.5M, it ultimately sold for $13.75M—an impressive 64% off its original price. Greenwich remained strong with four of the top five sales, while 385 Harbor Road secured the fifth spot with a sale price of $15M.
Address
Original Ask
Sold Price SP/OLP Sold Date DOM SqFt +/ - Year Built
21 Vista Drive, Greenwich
$
31,500,000 $ 31,500,000
100%
10/11/2024
*11 French Road, Greenwich
$
18,250,000 $ 18,250,000
100%
22 Dairy Road, Greenwich
$
18,950,000 $ 16,250,000
86%
616 Indian Field Drive, Greenwich
$
15,495,000 $ 16,150,000
385 Harbor Road, Fairfield
$
6 Windrose Way, Greenwich 2 Midwood Road, Greenwich
$/SF
0
19,786
1939
$ 1,592
6/11/2024
0
10,750
2017
4/24/2024
189
14,916
2023
104%
6/4/2024
17
7,793
16,000,000 $ 15,000,000
94%
12/6/2021
86
$
15,750,000 $ 14,800,000
94%
1/5/2024
$
15,900,000 $ 14,750,000
93%
1/5/2024
16 Windrose Way, Greenwich
$
21,500,000 $ 13,750,000
64%
80 Meadow Wood Drive, Greenwich
$
12,250,000 $ 12,180,000
400 5 1/2 Mile Road, Cornwall
$
14,995,000 $ 12,000,000
Acres +/ - # Bdrms # FBths # HBths 5.8
11
15
3
$ 1,698
2
6
6
3
$ 1,089
2.74
7
9
2
1999
$ 2,072
2
6
8
1
8,472
1854
$ 1,771
1.86
6
6
2
900
8,111
2008
$ 1,825
2.01
6
7
1
153
13,000
2023
$ 1,135
1.4
7
10
1
7/12/2024
715
8,914
1985
$ 1,543
2
8
10
1
99%
12/5/2024
134
8,847
2008
$ 1,377
1.05
6
6
2
80%
1/25/2024
3374
18,000
1992
$
445.62
10
12
3
667
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Greenwich Market
Greenwich Active Inventory 1800 1600 1400 1200 1000 800 600 400 200 0 2018
2019
2020
2021
CONDO
2022
2023
2024
SINGLE FAMILY
Stamford Market
RESEARCH
Single Fam/Condo/Coop
2024
2023
%CHG (YR)
ACTIVE INVENTORY
803
838
-4.2%
CLOSED
695
706
-1.6%
AVG DOM
26
35
-25.7%
DOLLAR VOLUME
$2,048,389,326
$2,075,673,879
-1.3%
MEDIAN PRICE
$2,250,000
$1,995,000
12.8%
AVERAGE PRICE
$2,946,249
$2,940,048
0.2%
102.1%
100.6%
1.5%
AVG % OF LIST PRICE
RESEARCH
Stamford Closed Sales
Single Fam/Condo/Coop
2024
2023
%CHG (YR)
ACTIVE INVENTORY
1,308
1,333
-1.9%
CLOSED
1,108
1,132
-2.1%
AVG DOM
31
39
-20.5%
800
DOLLAR VOLUME
$821,115,680
$757,419,898
8.4%
700
MEDIAN PRICE
$650,000
$575,000
13%
600
AVERAGE PRICE
$741,079
$669,099
10.8%
500
AVG % OF LIST PRICE
103.2%
102.6%
0.6%
1000
900
2018
2019
2020 CONDO
2021
2022
SINGLE FAMILY
2023
2024
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Darien Market
Darien Active Inventory 600 500 400 300
200 100 0 2018
2019
2020
2021
CONDO
2022
2023
2024
SINGLE FAMILY
RESEARCH
Single Fam/Condo/Coop
2024
2023
%CHG (YR)
ACTIVE INVENTORY
336
333
1.2%
CLOSED
262
278
-5.8%
AVG DOM
45
62
-27.4%
DOLLAR VOLUME
$574,165,583
$554,564,401
3.5%
MEDIAN PRICE
$1,887,500
$1,752,500
7.7%
AVERAGE PRICE
$2,191,472
$1,994,836
9.9%
102.4%
100.7%
1.7%
AVG % OF LIST PRICE
Single Fam/Condo/Coop
2024
2023
%CHG (YR)
ACTIVE INVENTORY
245
288
-14.9%
CLOSED
208
253
-17.8%
AVG DOM
31
38
-18.4%
DOLLAR VOLUME
$504,782,979
$601,756,293
-16.1%
MEDIAN PRICE
$1,942,500
$1,875,000
3.6%
AVERAGE PRICE
$2,426,841
$2,378,483
2%
105%
103.3%
1.6%
AVG % OF LIST PRICE
New Canaan Market
RESEARCH
New Canaan Average Sale Price $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 2018
2019
2020
CONDO
2021
2022
SINGLE FAMILY
2023
2024
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Norwalk Market
Norwalk Average Sale Price $1,000,000
RESEARCH
Single Fam/Condo/Coop
2024
2023
%CHG (YR)
$800,000
ACTIVE INVENTORY
915
957
-4.4%
$700,000
CLOSED
800
843
-5.1%
$500,000
AVG DOM
27
34
-20.6%
$400,000
DOLLAR VOLUME
$634,219,546
$589,815,727
7.5%
MEDIAN PRICE
$610,000
$570,000
7%
AVERAGE PRICE
$792,774
$699,663
13.3%
AVG % OF LIST PRICE
104.5%
104.5%
0%
$900,000
$600,000
$300,000 $200,000 2018
2019
2020 CONDO
2021
2022
2023
2024
SINGLE FAMILY
Wilton Market
RESEARCH
Wilton Active Inventory
Single Fam/Condo/Coop
2024
2023
%CHG (YR)
ACTIVE INVENTORY
285
275
3.6%
CLOSED
264
229
15.3%
AVG DOM
28
37
-24.3%
DOLLAR VOLUME
$332,922,172
$257,084,934
29.5%
200
MEDIAN PRICE
$1,150,000
$1,042,000
10.4%
100
AVERAGE PRICE
$1,261,069
$1,122,642
12.3%
0
105.9%
105.5%
0.4%
AVG % OF LIST PRICE
600 500
400 300
2018
2019
2020 CONDO
2021
2022
SINGLE FAMILY
2023
2024
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Westport Market
Westport Active Inventory
RESEARCH
1000
Single Fam/Condo/Coop
2024
2023
%CHG (YR)
800
ACTIVE INVENTORY
485
471
3%
CLOSED
360
351
2.6%
AVG DOM
47
58
-19%
DOLLAR VOLUME
$844,115,983
$811,216,487
4.1%
MEDIAN PRICE
$1,950,775
$1,914,000
1.9%
AVERAGE PRICE
$2,344,767
$2,311,158
1.5%
102%
101.8%
0.2%
600 400 200 0 2018
2019
2020
2021
CONDO
2022
2023
2024
AVG % OF LIST PRICE
SINGLE FAMILY
Fairfield Market
RESEARCH
Single Fam/Condo/Coop
2024
2023
%CHG (YR)
ACTIVE INVENTORY
867
802
8.1%
CLOSED
678
680
-0.3%
AVG DOM
28
43
-34.9%
DOLLAR VOLUME
$767,242,129
$707,136,368
8.5%
MEDIAN PRICE
$873,000
$800,000
9.1%
AVERAGE PRICE
$1,131,626
$1,039,906
8.8%
102.2%
102.6%
-0.4%
AVG % OF LIST PRICE
Fairfield Average Sale Price $1,200,000 $1,100,000 $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 2018
2019
2020 CONDO
2021
2022
SINGLE FAMILY
2023
2024
R ESEARCH | Lower Fairfield County 2024 | 12
Easton Active Inventory
Easton Market
235
RESEARCH
Single Fam
2024
2023
%CHG (YR)
ACTIVE INVENTORY
85
125
-32%
CLOSED
80
92
-13%
135
AVG DOM
40
47
-14.9%
115
DOLLAR VOLUME
$86,318,099
$87,737,300
-1.6%
MEDIAN PRICE
$962,500
$872,500
10.3%
AVERAGE PRICE
$1,078,976
$953,666
13.1%
100.3%
101.8%
-1.5%
215 195 175 155
95
75 2018
2019
2020
2021
2022
2023
2024
SINGLE FAMILY
AVG % OF LIST PRICE
Weston Market
RESEARCH
Single Fam
2024
2023
%CHG (YR)
ACTIVE INVENTORY
180
194
-7.2%
CLOSED
134
160
-16.3%
AVG DOM
34
45
-24.4%
DOLLAR VOLUME
$195,290,548
$211,705,485
-7.8%
MEDIAN PRICE
$1,337,500
$1,260,000
6.2%
AVERAGE PRICE
$1,457,392
$1,331,481
9.5%
104.1%
104.5%
-0.4%
AVG % OF LIST PRICE
Weston Average Sale Price $1,500,000 $1,400,000
$1,300,000 $1,200,000 $1,100,000 $1,000,000 $900,000 $800,000
$700,000 2018
2019
2020
2021
SINGLE FAMILY
2022
2023
2024
R ESEARCH | Lower Fairfield County 2024 | 13
Redding Market
Redding Closed Sales 250
RESEARCH
Single Fam/Condo/Coop
2024
2023
%CHG (YR)
200
ACTIVE INVENTORY
142
150
-5.3%
150
CLOSED
118
108
9.3%
100
AVG DOM
41
43
-2.4%
50
DOLLAR VOLUME
$118,071,651
$105,767,514
11.6%
MEDIAN PRICE
$869,500
$804,500
8.1%
AVERAGE PRICE
$1,000,607
$979,329
2.2%
99.8%
103.3%
-2.8%
0 2018
2019
2020
2021
CONDO
2022
2023
2024
SINGLE FAMILY
Ridgefield Market
AVG % OF LIST PRICE
RESEARCH
Ridgefield Average Sale Price
Single Fam/Condo/Coop
2024
2023
%CHG (YR)
ACTIVE INVENTORY
355
366
-3%
CLOSED
314
326
-3.7%
AVG DOM
30
44
-31.8%
$800,000
DOLLAR VOLUME
$321,257,616
$354,102,109
-9.3%
$600,000
MEDIAN PRICE
$908,750
$919,000
-1.1%
$400,000
AVERAGE PRICE
$1,023,113
$1,083,166
-5.5%
$200,000
102.9%
103.7%
-0.8%
AVG % OF LIST PRICE
$1,200,000 $1,000,000
2018
2019
2020 CONDO
2021
2022
SINGLE FAMILY
2023
2024
R ESEARCH | Lower Fairfield County 2024 | 14
Westport
Summary by Towns Single Family
SALES
MEDIAN PRICE
INVENTORY
308
$2.16M
431
-6%
7%
0.2%
Fairfield
Greenwich SALES
MEDIAN PRICE
INVENTORY
501
$2.87M
627
-5%
15%
-3%
RIDGEFIELD
REDDING
SALES
MEDIAN PRICE
INVENTORY
583
$903K
748
4%
8%
12%
EASTON
Stamford
Easton
WESTON
SALES
MEDIAN PRICE
INVENTORY
588
$855K
732
8%
6%
14%
WILTON FAIRFIELD NEW CANAAN
Darien SALES
MEDIAN PRICE
INVENTORY
194
$1.98M
230
-17%
3%
INVENTORY
80
$963K
85
-13%
10%
-32%
Weston
STAMFORD
GREENWICH
MEDIAN PRICE
WESTPORT
NORWALK
-14%
SALES
SALES
MEDIAN PRICE
INVENTORY
134
$1.34M
180
-16%
6%
-8%
DARIEN
New Canaan
Redding
SALES
MEDIAN PRICE
INVENTORY
201
$2.26M
265
-4%
13%
-5%
Norwalk
SALES
MEDIAN PRICE
INVENTORY
114
$875K
135
8%
6%
-8%
Wilton
Ridgefield
SALES
MEDIAN PRICE
INVENTORY
515
$740K
594
SALES
MEDIAN PRICE
INVENTORY
SALES
MEDIAN PRICE
INVENTORY
235
$1.21M
251
250
$1.05M
283
-5%
13%
-4%
21%
7%
5%
-10%
3%
-11%
R ESEARCH | Lower Fairfield County 2024
| 15
Methodology METRICS
SOURCE
CLOSED SALES the number of properties sold in a given period.
Figures in this report are based on publicly reported closed sales
information via the Smart Multiple Listing Service, InfoSparks, CRS, PENDING AND CONTRACTS SIGNED figures for the number of properties sold and newly under contract based on purchase contract date. DAYS ON MARKET ( D O M )
is the median number of days
between when a property is listed and the contract date.
Town of Greenwich Assessor, Domus Analytics, Greenwich Multiple Listing Service, an independent proprietary information and valuation tools. DISCL AIMER
Real estate agents affiliated with Corcoran Centric Realty are independent contractors and are not employees of Corcoran
AVERAGE PRICE PER SQUARE FOOT is the average price divided by the average square footage.
Centric Realty. Corcoran Centric Realty is a licensed real estate broker located at 103 Mason Street, Greenwich, CT 06830. All material presented herein is intended for information purposes only
MEDIAN PRICE AND PRICE PER SQUARE FOOT ( P P S F ) are the middle or midpoint price where half of sales fall below and half fall above this number.
and has been compiled from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal notice.
INVENTORY is a count of all currently listed properties for sale at the end of the month, based on the contract date.
THE FOLLOWING MEMBERS MADE SIGNIFICANT CONTRIBUTIONS TO THIS REPORT: Sydney Hubbell
I
Jeffrey Jackson
I
Clare Bolduc
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